Litmaps closes $125K in seed-stage investment from Quidnet Ventures
SAN FRANCISCO, Sept. 1, 2021 /PRNewswire/ -- Litmaps, a Science software company based in Wellington, New Zealand has received NZ$125,000 in funding from Quidnet Ventures, a New Zealand-based venture capital fund with operations in Auckland, NZ, San Francisco and New York. Litmaps has built a research navigation platform that allows scientists, engineers, and other experts to more rapidly and deeply navigate peer reviewed research and patent literatures, accelerating breakthroughs and allowing them to work more effectively in R&D teams. The total size of Litmaps’s seed round was $1M NZD, and was led by Icehouse Ventures.
Tools like Google Scholar and Scopus allow for basic academic search, but what Litmaps allows is domain experts such as scientists and engineers to dive into their field of expertise, and use data visualisation and network science tools to understand the full picture: how the research is evolving, what they might have missed, and where breakthroughs and commercial opportunities might exist. Litmaps helps accelerate research breakthroughs – from medicine to policymaking to space travel – with more efficient discovery of 200+ million published and peer-reviewed studies.
Quidnet Ventures is a seed and series-A fund that mentors and invests in early-stage startups based in New Zealand that aspire to have global impact. Quidnet’s team consists of a group of experienced investors and advisors that can leverage their knowledge set to support Litmaps. Litmaps joins Quidnet Ventures’s portfolio, consisting of Aider, Dawn Aerospace, Winely and MaramaLabs.
“With my original training in physics I can really appreciate the problem that Litmaps is solving. Both the world of academic research and that of industrial R&D will benefit from the company’s solution,” states Mark Bregman, Founder and General Partner of Quidnet Ventures.
Kyle Webster, CEO of Litmaps, states, “It’s fantastic to have Quidnet on board. Litmaps sees real value and excellent strategic alignment in Quidnets expertise in R&D intensive companies and access to both North American, and other international markets.”
Litmaps’s research platform combines interactive citation maps, modern search tools, and models of a researchers’ existing knowledge to create a more efficient research discovery experience to help accelerate scientific breakthroughs. Over 30,000 researchers worldwide, from public research organisations to development teams in science-heavy companies, have already used Litmaps.
Quidnet Ventures brings years of experience and a network of experts that are well aligned with Litmaps’s strategic direction. Quidnet Ventures is capable of providing guidance on building Litmaps’s product, and opening access to networks in the global R&D market for its newest portfolio company. Quidnet Ventures’s involvement will accelerate the growth of Litmaps in the next phase of its journey.
About Quidnet Ventures: Quidnet Ventures is a seed and series-A fund investing in New Zealand-based founders building impactful companies. Quidnet Ventures focuses on taking New Zealand innovation to the world and takes an active role in helping its portfolio companies succeed by leveraging its team’s global, multi-sector network as its portfolio companies position themselves to enter international markets. Quidnet Ventures provides unrivaled access to a global network across academia, government affairs, venture capital and industry. The Quidnet Ventures team has worked in Europe, Japan, China, India and Australia; and 20+ years in New Zealand. Our partners and analysts have 150+ years of total experience in the international technology industries. The Quidnet Ventures team prides itself in leveraging its extensive experience to help its entrepreneurs work through many of the issues that the members of the team themselves have experienced.
Litmaps has built a next-generation research platform that empowers scientists, engineers, and other researchers to explore and better understand academic and patent literature. It launched an early access product in November 2020 with rapid uptake by a global user base. It has received extremely positive feedback from researchers and has been featured on the front page of both product hunt and hacker news. Having recently closed its seed round Litmaps is focused on expansion of the user base and exploring how its technology can deliver value for high performing research teams in R&D intensive companies.
SOURCE Quidnet Ventures